Biofuel blending mandates for 2022 issued by US EPA

The US Environmental Protection Agency (USEPA) set biofuel blending mandates for 2022 at 20.63 billion gallons and retroactive volume mandates for 2021 at 18.84 billion gallons and for 2020 at 17.13 billion gallons. EPA denied oil refiners’ exemption petitions, but said it would allow extra time for small refiners to meet their 2020 blending obligations.

Refiners in Asia pin hopes on US SPR release

Asian refiners cheered US President Joe Biden’s decision to release 1 million b/d of oil from the US’ strategic petroleum reserves as the release may lead to more light sweet US crude exports to the Far East, while spot crude price differentials across the globe could fall should US refineries cut back on feedstock imports.

US biofuel blending proposals to come in days

The US administration plans to propose in days the amount of biofuels oil refiners must blend into their fuel mix this year and next year, as it reaches out to lawmakers to discuss the move, three sources familiar with the matter said. President Joe Biden’s administration has delayed decisions on 2021 blending obligations by more

Japan to subsidise refiners to ease oil price impact

Japan is planning to give subsidies to the country’s refiners for the first time to offset the impact of surging oil prices on domestic oil product values. The government will provide funding to refiners when the country’s retail prices of products such as gasoline exceed a certain level, to avoid further increases, Japan’s trade and